Ground X strategic invests in NFT Bank, a NFT portfolio and asset management platform

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NFT Bank has announced that they raised an strategic investments of 1 billion won ($800k) from Ground X , a subsidiary of Kakao. NFTBank is a  non-fungible token (NFT) portfolio and asset management platform providing in-depth tools. NFTBank’s platform is capable of supporting NFTs on Ethereum and other chain networks.

Previous seed investors are blockchain investment firm Hashed Ventures, 1KK and Digital Currency Group. 

NFTBank provides services to show clients’ NFT transaction records, investment profits and portfolio to analyze values of NFT assets in real time, attracting many users. It is hard to get data on the current values of NFT assets since many investors hold them for a long term.

“NFTBank estimates the current value of clients’ NFTs by analyzing data on transactions of similar assets. Satisfaction is high since the accuracy of artificial intelligence’s (AI) algorithms is about 80-90%,” Kim said. “We even suggest the best time to sell specific NFTs through big data analysis.”

On April 15th, Ground X invested 1 billion won ($800k) in cash and  acquired 1,230 shares of ‘Contxts.io’.(operator of NFT Bank) 

Ground X said, “To strengthen our strategic business partnership with NFT bank, we purchased a 10.28%(1,230 shares) stake in Contxts.io.”

Meanwhile, Ground X is expanding the NFT market by introducing a card payment function to ‘Clip Drops’, a digital art and non-fungible token (NFT) distribution service.